SECP registers 2,201 new firms in January

The Securities and Exchange Commission of Pakistan (SECP) enrolled 2,201 companies in January, thereby taking the total number of registered companies in the country to 134,797.

As reported by ARY News, out of all the newly registered incorporations, 98 percent were registered online and around 30 percent applicants completed the registration process on the same day.

Around 69 percent of the companies were registered as private limited companies, while around 28 percent as single member companies and 3 percent as public unlisted companies, not-for-profit associations, foreign companies and Limited Liability Partnership (LLP).

During the month of January, 66 foreign users completed registration from overseas.

The trading sector topped with 314 fresh incorporations in January, information technology followed not too far behind with 269, construction featured 227, services and allied hit 188, and e-commerce bagged 79. Meanwhile, the remaining 1,124 companies were registered in other sectors.

Foreign investment has been reported in 44 new companies, from China, Malaysia, Sweden, South Africa, Norway, the Netherlands, Turkey, UK and US.

The SECP further said that registration of their business centre in Islamabad has also witnessed a 24 percent increase after 837 more companies were registered during January 2021.

“The establishment of business centre is part of the government’ reforms initiative under ease of doing business,” it said.

CRO Lahore and Karachi registered 623 and 319 companies respectively.